Ramona Unified School District Board Meeting August 20, 2015

 Staff has reported on the importance of the unaudited actuals  The ONLY time during the year when an accurate picture of any District’s finances can be seen  Shows the picture on one specific day -- June 30th  All revenues and expenses are accounted for  All other times are predictions of the finances  However, with the current fiscal crisis, end-of- year close is a piece of information which helps to determine the finances for future years

 Local Control Funding Formula  In its second year of existence  Local Control Achievement Plan  Also in its second year  Enrollment decrease was less than anticipated  A decrease of 35 students  This event greatly improved the financial outlook for the District  Certificates of Participation were refinanced  A savings to the District of $7,250,000  Created a level debt service

 Another successful year of negotiations with the bargaining units  A robust professional development calendar  New math instructional materials were piloted and purchased  A deferred maintenance plan was developed, funded and implemented  A rate shock increase for electricity charges  Funding for Common Core  The final year of a two-year window  A positive second interim report!

 Total Revenues$50,605,  Total Expenses/Transfers$50,687,  Difference$ ( 81,718.50)  Shows both unrestricted side and restricted side of the financial picture

 Beginning Balance $ 7,928,  Ending Balance$ 7,846,  Unrestricted Ending Balance$ 6,707,  Restricted Ending Balance$ 1,139,596.14

Unrestricted  Revolving Cash/Prepaid Exp. $ 31,  Maintenance Projects$ 456,  Donations (including outdoor ed)$ 181,  School & Library (SLIP)$ 161,  Site/Department Carryover$1,010,  Remaining Balance$4,866,  Total$6,707,173.32

Restricted  Lottery Inst. Materials$ 362,  Medi-Cal Billing Option$ 293,  California Clean Energy Act$ 339,  Remaining Balance$ 144,  Total$1,139,596.14

 Both the unrestricted and the restricted ending balances finished higher than anticipated  Higher revenue from LCFF, and from donations to school sites  Decrease of expenses from budgets such as utilities, substitute costs, the use of common core dollars to offset the purchasing of math materials, and site and department spending  Because of these factors, the ending balance did not decrease, but rather stayed relatively unchanged, however the unrestricted ending balance actually increased by $500,000

 The stronger ending balance (undesignated amount) will ensure fiscal health for the next three years based upon current assumptions  The enacted State budget has a slight decrease in LCFF funding and one-time mandated costs reimbursements  It also has additional dollars intended to promote educator quality and effectiveness  The balances from for both the restricted and unrestricted budgets needs to be incorporated into the budget as well as updated to reflect the staffing changes over the summer months

 Ramona Unified's financial picture continues to look better than in previous years  However, declining enrollment will still be an issue  The early enrollment counts show promise of a slowing decline but until the actual count is taken on Monday, this is only a projection  When will the next downturn in the State economy happen

 F und 17 Special Reserve Fund  Revenues (interest)$ 6,  Expenses (transfers out)$ 0.00  Cafeteria Fund  Revenues $1,780,  Expenses$1,748,266.82

 Self Insurance Fund  Revenues$ 173,  Expenses$ 246,  Developer Fees  Revenues $ 333,  Expenses $ 30,800,745.46

 The District closed with a continuing well -balanced budget  State revenues remain strong as illustrated by the July State revenues which meet budget expectations  Declining enrollment will be a key indicator of our long-term future